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Balance sheet of Thermax is strong.
It shouldn't have solvency or liquidity issues.
Yes, The net debt of Thermax is increasing.
Latest net debt of Thermax is -₹614.18 Crs as of Mar-25.
This is greater than Mar-24 when it was -₹694.32 Crs.
The profit is oscillating.
The profit of Thermax is ₹669 Crs for TTM, ₹634 Crs for Mar 2025 and ₹645 Crs for Mar 2024.
The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Thermax latest dividend payout ratio is 24.86% and 3yr average dividend payout ratio is 23.6%
Companies resources are allocated to majorly productive assets like Plant & Machinery